In addition to the 30-year fixed rate mortgage money, UHC can provide financing for all of the down payment and closing cost funds needed by qualifying families to purchase homes.

The low interest rate under the UHC home buying program is expected to save the typical Utah lower-income household as much as $17,000 in payments during the life of the loans, according to the independent public corporation.

Providing money for down-payments and closing costs, which run approximately $9,000 on a typical modest home, allows families to overcome one of the biggest obstacle in buying a home - the inability to put away enough savings to cover the related expenses.

"Helping families in their pursuit of homeownership is the central objective of Utah Housing Corporation," explained William Erickson, president of UHC.

"Whenever we are able to move a family from an apartment into a home, it frees up that affordable apartment unit for the next family. With the shortage of affordable housing in Utah, this process is crucial to make more housing available."

Because of UHC's programs among others, Erickson pointed out that nearly 73 percent of Utah households own homes, compared to the national average of 68.4 percent. The situation makes Utah's homeownership rate one of the highest of any state in the nation.

"Homeownership provides stability for families and for the community. It also provides the greatest opportunity for lower-income households to build equity and provide economic security for their future," said Erickson.

UHC has provided home buying assistance for more than 50,000 lower-income families in every area of the state and is the largest provider of affordable housing assistance in Utah.

Utah housing loans are obtainable through 36 lenders in more than 160 offices across Utah. Carbon County residents may access the list at http://www.utahhousingcorp.org/).

Certain limitations apply on applicants' household incomes as well as the cost of homes that can be financed under the UHC program, pointed out Erickson.

Certain regions of the state are designated by the federal government as targeted areas.

To promote home ownership in the targeted areas, eligible residents are extended several additional advantages, according to UHC.

For information on programs offered by Utah Housing Corporation, local residents may contact the agency toll-free 1-800-301-6950 for a free brochure/.

UHC offers multiple resources to develop and finance quality, affordable housing for low to moderate-income home buyers across the state.

After being founded by the Utah Legislature in 1975 as an independent public corporation, the state agency has provided financing for more than 67,000 single and multi-family housing units.